My wife has an account with Sears, which is now owned by Citibank. The account was set up to 2k and went to 3 and 4k with charges, interest etc.]
rnIch min pymnts paid only to keep it running for 12 months, then it went unpaid for 6 months, we called and tried a to make arrangements and said that we have tried for 12 months, but no progress, you can do without charges, interest, or make a plan? This was met with no offers and a statement that acct Call closed.
rnsie continue when my wife and said to them, they replied they wanted to pay acct, she was not with the payment of fees and the latest agreement. the rep said they could accept pymnt of 219 per month, and they would be removing 219 a month fr balance.
SpielrnHat anyone ever heard of a few thousands, or is this just a bait and switch?
rnSag me what you think
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Reply:With a collection agency, you want to COMPLETELY REMOVE the account from the credit report. "Paid in full" or "Paid as Agreed" are not much help with a collection.
Good luck getting the OC to update the account listing to Paid as Agreed unless you pay the whole thing in full.
With that said – Are you crazy to agree to that kind of payment with a collection agency?? Have you tried debt validating them – I mean, do they have anything against you? How do you know they have the proper documentation for them to collect?
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Reply:one rep said it was already closed and later another rep said it was still open, if you pay the 200 something, we will remove 200 something from the balance each time you make a payment. this sounded good but fishy. was checking if anyone has run into this, of course if we agree we will get it in writing. seems tough to do though in these economic times
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Reply:I, too, have a Sears Mastercard.
What makes me very distrustful of Sears/Citigroup is that they keep playing around with my due date. Sometimes they'll abruptly change it by as many six days from what it was just the previous month. They also for the last several years have maintained the policy that interest rates are "non-negotiable".
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Reply:guy
Has the account been charged off already? and if so does a collection agency have it? That is what you need to know before making any kind of arrangements…
If they still have the account, I would negotiate for a settlement with and exchange for them updating the account as "PAID IN FULL" or "PAID AS AGREED" that of course erasing all of the lates…..
You more that likely will not get anywhere with the collection reps in CITI, I would try to get creative and contact an executive of some kind. Emails have work great for me….
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Reply:I'd be interested in reading a reply to this as well. I have Citi problems with late fees that they are holding onto without too much compromise.
I'm learning on this board that Citi is not very consumer friendly. As soon as I read that my Sears card was bought by Citi, and after reading this board for 5 hours a night for the last two weeks, I cancelled it last night. I feel good about it too!
June 6th, 2011 
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